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TransUnion Free Credit Score Settlement
Posted By Jim On 05/31/2008 @ 6:35 am In Credit | 7 Comments
If you had a credit card, loan or credit account between January 1987 and May 28th, 2008, you are eligible to file a claim in a preliminary settlement of a class-action lawsuit (though not slated to be approved until September, though it’s probably going to happen). That’s a whole lot of people. The lawsuit was filed eight years ago in Chicago and alleges that TransUnion sold consumer profile information to businesses, which is a violation of federal law. What started in Chicago certainly didn’t stay there, eventually there were 14 federal lawsuits. Yikes!
(Thanks to Cap , if you used TransUnion or TrueLink between December 1, 1999 and April 16, 2007, you can get three months of credit monitoring through a settlement in the Robert V. Townes, IV v. TransUnion, LLC and TrueLink, Inc. case , deadline for that settlement is July 22, 2008)
You may be eligible for one of two options:
(1) Basic relief. Free credit monitoring for six months, which gives you daily access to your credit report and credit score and 24-hour credit-monitoring service. This normally costs $59.75. Those who elect this option may get a cash payment if there’s money left from the $75 million settlement fund.
(2) Enhanced relief. An alternative enhanced set of services” in exchange for a full release of claims. This options includes nine months credit monitoring, a suite of insurance scores and TransUnion’s mortgage simulator service. This option normally would cost $115.50. You won’t be entitled to any cash payment under this option. [Source: Phuong Cat Le of SeattlePI.com ]
Option 1, basic relief, is the only one where you could potentially get money (if there’s any left over). If you elect basic relief you can get the free credit monitoring for 6 months or a $59.75 cash payment. I don’t think there will be any cash left over in the $75 million settlement fund (there never seems to be, plus you figure with the internet and how fast information spreads, you’ll get a pretty high percentage of the estimated 160 million eligible Americans registering for this).
Option 2, enhanced relief, has no cash out option and comes with three aditional months of credit monitoring, and a “suite of insurance scores.” There’s conflicting interpretation of “suite of insurance scores.” Some news outlets are reporting that it’s your credit score, others call it a different score that insurance companies use to determine your rates. I didn’t know that there were even separate scores (there may not be) in the first place. Bottom line, you will get a credit related number for free that you otherwise would’ve had to pay for.
First, you’ll have to register. After June 16th, 2008, you can register online at www.listclassaction.com  or by calling them up at 1-866-416-3470. As of May 31st, the website doesn’t work yet.
Lastly, you can always get a free copy of your credit report, thanks to Federal Law, through AnnualCreditReport.com .
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 Email: mailto:?subject=http://www.bargaineering.com/articles/transunion-free-credit-score-settlement.html
 Cap: http://www.stopbuyingcrap.com
 settlement in the Robert V. Townes, IV v. TransUnion, LLC and TrueLink, Inc. case: http://www.townessettlement.com/
 Phuong Cat Le of SeattlePI.com: http://blog.seattlepi.nwsource.com/consumersmarts/archives/140082.asp
 www.listclassaction.com: http://www.listclassaction.com
 AnnualCreditReport.com: http://annualcreditreport.com/
Thank you for reading!